"Even the US is seeing large institutional investors getting involved in hydrogen,..."So, as some kind of validation in support of the case for hydrogen, you reference the share register of PlugPower (PLUG), which contains the names of a number of institutional investors?
Holding this company up as some kind of example of anything (other than potential bankruptcy... see below) is rather laughable, given the extent of the rapidly-increasing losses it is incurring:
2021:
-US$460m
2022:
-US$724m
2023:
-US$1.376 bn
2024:
-US$2.105 bn
The company raised $1.2bn as part of the IPO in 2021, a further $3.8bn in 2021 and then $860m last year; so a total of ~US$6bn dusted in four years
[*] with no end to the losses in sight and with a non-trivial chance of the company going belly-up given it ended DH2024 with $176m in Net Debt and is haemorrhaging cash at the rate of more than US$1.0bn per year.
Little wonder PLUG's share price has lost 98% of its value over the past four years:
View attachment 6914391[*] The Market Cap today, US$1.5bn, is a mere one-quarter of the total capital that has been raised (and that doesn't include the US$400m in notes). Such is the extent of the shareholder value destruction.
So to present that company as being some kind of a successful exemplar of the prospects for the hydrogen industry is really quite comical.
As for, "
People are talking smack that it's not becoming popular", outside the echo-chamber of hydrogen promoting propaganda, the pictures is a starkly different one:
View attachment 6914454.
(20min delay)